This is a trend following analysis using a breakout entry formation that generally has the greatest results. This analysis is good for 4H trading, but can also be used on almost all time frames and on all pairs. Basically, this analysis is based on breakout and certain forms of reversals. The analysis seeks to highlight potential breakout setups that can result in higher reward. To ensure consistent successful trades, the trader should exercise some degree of patience and wait for the perfect set up to execute trades. There’re are several types of breakouts, I only focus on two types of breakouts, trend line breakout and double top/triple top/ bottom breakout. Even with the two, I only trade double top/ triple bottom breakout most of the times and trend line breakout at some other times. Double top/Triple top/ bottom breakout is more dependable and reliable than the other. Note, trend line breakout includes also breaks that occur out of various shapes such as wedges, channels, triangles, and all the other shapes part from rectangles. Below are the simple sketches of some of the breakout setups I’ll be focusing on.
Technical observation EUR is trading with an increasing bullish bias below the zone 1.0578-1.0568, this upwards movement is a pullback to the same zone and I expect a rejection of price within it to pick a sell order with my take profit at the level 1.0358 and stop-loss at 1.0632. Should there be
Technical observation The value of the pair on the weekly chart above is trading with an increasing bullish bias above the level 1.2159 and I expect it to close the same. This upwards movement is a pullback to the resistance zone 1.3401-1.3338 and I anticipate a further surge to the same zone foll
Technical observation On the hourly chart above price declined below the zone 135.30-135.20 with a big red candle the pulled back to it and it was sustained below the zone. As long as the value of USD is contained below the same zone, I expect it to surge steadily to the lower side. My advice, wai